Kazakhstan’s Government Appeals to UK Courts to Unfreeze $22 Billion in Banks

Kazakhstan’s Government Appeals to UK Courts to Unfreeze $22 Billion in Banks

Kazakhstan’s government has appealed to the U.K. court to unfreeze $22 billion of assets in BNY Mellon. The $22 billion assets represented almost 40% of Kazakhstan’s sovereign wealth fund, Kazakhstan’s National Fund. The $22 billion assets were frozen due to a legal dispute with Moldavian businessmen Anatolie Stati and Gabriel Stati.

In late 2017, Moldova’s businessman & tycoon Anatolie Stati and Gabriel Stati, had both won a verdict for settlement in the U.K. court against the Kazakhstan government for harassing and forcing them to sell their investments in the Kazakhstan’s oil and gas industry cheaply.